Common use of Equipment Advances Clause in Contracts

Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through September 30, 1998 (the "Equipment Availability End Date"), Bank agrees to make advances (each an "Equipment Advance" and collectively, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Equipment Line. To evidence the Equipment Advance or Equipment Advances, Borrower shall deliver to Bank, at the time of each Equipment Advance request, an invoice for the equipment to be purchased. The Equipment Advances shall be used only to purchase equipment purchased on or after January 1, 1998 and shall not exceed One-Hundred Percent (100%) of the invoice amount of such equipment approved from time to time by Bank, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Software may, however, constitute up to twenty-five percent (25%) of the aggregate of all Equipment Advances.

Appears in 2 contracts

Samples: Loan and Security Agreement (T/R Systems Inc), Loan Modification Agreement (T/R Systems Inc)

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Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through September 30October 14, 1998 (the "Equipment Availability End Date"), Bank agrees to make advances (each an "Equipment Advance" and and, collectively, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Equipment Line. To evidence the Equipment Advance or Equipment Advances, Borrower shall deliver to Bank, at the time of each Equipment Advance request, an invoice for the equipment to be purchased. The Equipment Advances shall be used only to purchase equipment Equipment purchased on or after January 1, 1998 ninety (90) days prior to the date hereof and shall not exceed One-Hundred Percent one hundred percent (100%) of the invoice amount of such equipment approved from time to time by Bank, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Software may, however, constitute up to twenty-five percent (25%) of the aggregate of all Equipment Advances.

Appears in 1 contract

Samples: Loan and Security Agreement (Wavephore Inc)

Equipment Advances. (a1) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through September 30February 28, 1998 (the "Equipment Availability End Date"), Bank agrees to make advances (each an "Equipment Advance" and collectively, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Equipment Line. To evidence the Equipment Advance or Equipment Advances, Borrower shall deliver to Bank, at the time of each Equipment Advance request, an invoice for the equipment to be purchased. The Equipment Advances shall be used only to purchase equipment purchased on or after January 1, 1998 refinance Equipment and shall not exceed One-One Hundred Percent (100%) of the invoice amount of such equipment approved from time to time by Bank, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Software may, however, constitute up to twenty-five percent (2525.0%) of the aggregate of all Equipment Advances.

Appears in 1 contract

Samples: Loan and Security Agreement (Faxsav Inc)

Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through September 30DECEMBER 31, 1998 (the "Equipment Availability End Date"), Bank agrees to make advances (each an "Equipment Advance" and collectively, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Equipment Line. To evidence the Equipment Advance or Equipment Advances, Borrower shall deliver to Bank, at the time of each Equipment Advance request, an invoice for the equipment to be purchasedpurchased or financed. The Equipment Advances shall be used only to purchase equipment or finance Equipment purchased on or after January 1June 30, 1998 1997 and shall not exceed One-Hundred ONE HUNDRED Percent (100%) of the invoice amount of such equipment approved from time to time by Bank, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Software may, however, constitute up to twenty-five FIFTEEN percent (2515%) of the aggregate Equipment Advances. Tenant improvements may constitute no more than THIRTY FIVE percent (35%) of all aggregate Equipment Advances.

Appears in 1 contract

Samples: Loan Modification Agreement (Orapharma Inc)

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Equipment Advances. (a) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through September 30OCTOBER 9, 1998 (the "Equipment Availability End Date"), Bank agrees to make advances (each an "Equipment Advance" and collectively, the "Equipment Advances") to Borrower in an aggregate outstanding amount not to exceed the Committed Equipment Line. To evidence the Equipment Advance or Equipment Advances, Borrower shall deliver to Bank, at the time of each Equipment Advance request, an invoice for the equipment to be purchasedpurchased or financed. The Equipment Advances shall be used only to purchase equipment or finance Equipment purchased on or after January 1June 30, 1998 1997 and shall not exceed One-Hundred ONE HUNDRED Percent (100%) of the invoice amount of such equipment approved from time to time by Bank, excluding taxes, shipping, warranty charges, freight discounts and installation expense. Software may, however, constitute up to twenty-five FIFTEEN percent (2515%) of the aggregate Equipment Advances. Tenant improvements may constitute no more than THIRTY FIVE percent (35%) of all aggregate Equipment Advances.

Appears in 1 contract

Samples: Loan Modification Agreement (Orapharma Inc)

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